Russian GPU Prices Spike, Miners Turn to International Markets for Graphics Cards

The meteoric rise in the price of bitcoin and other cryptocurrencies during 2017 has attracted the attention of citizens across the globe. For many living in nations with low-wage labor markets, cryptocurrency mining can offer far greater profits than the average local wage.

It has been reported that many Russian miners are able to generate up to twice the average monthly wage offered in the labor market, resulting in a huge glut of demand for mining equipment locally. Local media has reported that the number of Russians engaged in cryptocurrency mining has increased by 500 – 700 percent, rendering many GPU retailers unable to meet demand. With consumers purchasing graphics cards by the hundreds, merchants have responded with price hikes of up to 80 percent.

Read more here: https://news.bitcoin.com/russian-gpu-prices-spike-miners-turn-to-international-markets-for-graphics-cards/